- Hipgnosis (SONG) announced that Vania Schlogel has stepped down as a director of the company with effect from 30 April 2023 to focus on her executive role at Atwater Capital, which she founded in 2017 and for which her commitments and responsibilities have recently increased significantly.
- The board of Scottish Mortgage Investment Trust (SMT) announced the appointment of Sharon Flood and Vikram Kumaraswamy as independent non-executive directors of the company, with effect from 17 May 2023. [This follows the departure of former chair Fiona McBain, and director Amar Bhidé early in the year following what appeared to be a breakdown of orderly succession planning earlier in the year, which we wrote about here]. Sharon Flood is a non-executive director of Getlink SE, where she is chair of safety and security, at Home PLC, where she is chair of the remuneration committee and formerly chair of the audit committee. A fellow of the Chartered Institute of Management Accountants, Sharon has also held leadership roles at Sun European Partners and the John Lewis Partnership. On appointment, Sharon will join the audit committee and nomination committee. Vikram Kumaraswamy is the head of strategy and corporate development at Unilever. He leads portfolio development and capital allocation for the group, with responsibility for strategy, M&A sourcing and execution, competitor intelligence and corporate venturing. A chartered accountant, Vikram was responsible for significant changes to Unilever’s portfolio, positioning the company for superior long-term growth and involved in other strategic transformation initiatives. Vikram was previously CFO of PT Unilever Indonesia Tbk, based in Jakarta. On appointment, Vikram will join the audit committee and nomination committee.
- Target Healthcare REIT (THRL) has posted a slight increase in EPRA Net Tangible Assets (NTA) per share to 103.4 pence for the first three months of 2023 (31 December 2022: 103.0 pence). This was primarily driven by like-for-like valuation uplift in its portfolio of care homes from inflation-linked rent reviews and a minimal yield shift. Adjusted EPRA earnings per share for the quarter was 1.5 pence, fully covering a dividend to be paid in respect of the quarter of 1.4 pence per share. NAV total return for the quarter was 2.1% (based on EPRA NTA and including payment of dividend). The group’s Net Loan to Value fell to 23.8% (31 December 2022: 25.1%), with the weighted average term to expiry of 6.5 years and an earliest maturity of November 2025. Interest costs are hedged on 100% of drawn debt. The company has overall capital available of £62m.
We also have half year results for International Biotech, and Henderson International Income.